Non-emergency medical transport companies offer transportation services to people who need to get to and from medical appointments. The elderly, disabled, and patients with immobilizing injuries and chronic illnesses depend on these services.
Owing to the medical and technological advances that have developed in the United States over the past few decades, people are living longer and seeking ways to live more active lives.
Even the old and disabled are without doubt becoming more mobile than ever before. Normally, such individuals often cannot operate a vehicle on their own, and need more assistance than a traditional taxicab service can offer.
Non-emergency medical transport vehicles are expected to accommodate passengers in stretchers or wheelchairs, in addition to people who walk only with difficulty using a walker or a cane. Owing of these facts, non-emergency medical transport insurance is becoming an ever more crucial part of the U.S. economy.
Due to the risks involved in transporting elderly or special needs clients, business owners who start and run the transport companies are expected to take care to protect their assets should an accident or other mishap occur.
If you own and operate a non-emergency vehicle or paratransit company, you have a lot of details to keep track of. Also note that your company may use small passenger vans to provide this service, or small buses fully equipped to transport handicapped and wheelchair bound customers.
In this modern age, it is becoming more important for business owners to explore opportunities to protect their customers and their business income. It is hard to do that if you don’t have transportation insurance.
There are many insurance agents that can help you with insurance for non-emergency (and emergency) ambulances, medical transport vans, and any commercial or livery transportation operations in the United States.
Your non-emergency medical transport insurance is expected to include commercial automobile coverage and workers’ compensation. An automobile policy will protect your work vehicles and will help you pay to repair and replace your cars after an accident.
Also have it in mind that most states require you and/or your insurance company to submit forms to the department of transportation to prove that you have adequate levels of insurance.
These requirements are more or less legislated at the state level and therefore tend to vary based on the state in which you operate. However, before you buy commercial automobile insurance, speak with an insurance agent about all your specific insurance needs to determine the amount of coverage you need and find the policy that is right for your business.
Necessary Insurance Policies for a Non-Emergency Medical Transport Company
As the owner of a non-emergency medical transport company, your vehicles are pertinent to the success of your company. If any of them were to be damaged in an auto accident, you would have to worry about the expenses involved with repairing it while also losing money each day that it is down.
However, you can protect your vehicles with adequate business insurance. Here are the most important types of non-emergency medical transport insurance you should have:
General Liability Insurance
Liability insurance is required by law in most states. This insurance protects other drivers from suffering financial losses when the driver of your vehicle causes an accident.
Also note that this insurance helps pay for injuries and damages to other people when your non-emergency medical transport vehicle is at fault for an auto accident. This business coverage comes in two specific pieces: Bodily injuries and property damages.
- Bodily Injury: note that when your non-emergency vehicle causes an auto accident, the bodily injury portion of your liability insurance caters for the cost of medical care for the victims involved. This coverage pays the medical bills and other expenses that are created for the other drivers and passengers not in your vehicle. This insurance will also cover the cost of emergency and ongoing medical care. It also pays for the expenses incurred for rehabilitation, physical therapy and recuperation. It goes further to cater for the victims for pain and suffering, and if applicable it pays for lost wages due to time off work. When accidents cause fatalities, this coverage also pays for the victim’s funeral expenses.
- Property Damage: If your non-emergency medical transport vehicle is at fault for an auto accident, the property damages portion of your liability insurance will cater for the cost of repairs that the other vehicles need.
Business Auto Insurance
Business or commercial auto insurance covers the general requirements that are germane to running a transportation business, including those mentioned above such as general liability. Auto insurance protects your company against any medical, hospital, or emergency transportation expenses that should arise out of injuries sustained during an accident or other mishap for which your company is liable.
It is important to note that this insurance protects your non-emergency medical transport driver and all passengers who are in the vehicle at the time of an auto accident.
If anyone is injured, irrespective of who is at fault in the accident, medical payments coverage will cater for the associated medical bills. It is advisable you call and speak with a licensed insurance agent to determine if it is a viable option for your non-emergency medical transport insurance needs.
Physical Damage Insurance
This is the insurance coverage that protects your vehicle directly. If your non-emergency vehicle is damaged or destroyed due to unexpected events and perils, this coverage will ultimately cater for the repairs and replacement of your vehicle.
This is quite crucial for non-emergency vehicles that are not fully paid for, and those that are leased, because it provides the highest level of loss protection your company can get.
- Comprehensive Physical Damage: This damage protects your non-emergency vehicle insurance against a wide variety of potential day – to – day risks. It also protects you against theft of your vehicle; break in, vandalism, damages caused by natural events such as a hailstorm and more. This damage protection covers most damages that are not caused by overturning or by collision.
- Collision Damage: Collision damages also provide you with insurance for those times when your vehicle does get damaged in a roll – over or collision. If, for instance, your vehicle backs into a mailbox while picking up customers, your collision damages protection will pay for the cost of repairs.
- Specified Peril (CAC): this specified peril insurance provides you with protection against only those events and risks that are specifically listed on your non-emergency medical transport insurance policy. It is also known as CAC, which is short for Fire and Theft with Combined Additional Coverage.
Uninsured or Underinsured Motorist
According to experts, this insurance is ideal for your non-emergency vehicle transit service, because it protects you from suffering financial hardships that can be caused by other people.
If another driver causes an accident with your vehicle and they do not have insurance – or they don’t have enough insurance – this coverage caters for the cost of repairs to your vehicle and pays for the bodily injuries of your driver and passengers.
Even though general liability insurance protects your business from accidents, it usually doesn’t cover damages that you had the power to avoid. It simply means that a lot of workplace injuries are not covered. In a worst case scenario, an employee could litigate for the injuries they incurred in the workplace, and that is where workers comp insurance is the most useful.
Note that if an employee ends up with medical expenses from a workplace accident, workers comp insurance can pay them for the time they were out of work, as well as their medical costs. In return, the employee forgoes the right to sue the employer.
Have it in mind that this is a mutually beneficial solution, and it is usually the easiest and quickest one as well. Without workers comp in place, you might end up with months-long legal battle that will drain the wallets of both business and defendant.
Other Commercial Auto Coverage You May Want To Consider Include:
- Rental: Rental insurance pays for the cost of renting a temporary replacement vehicle when yours is down for repairs due to an auto accident.
- Towing: If your non-emergency medical transport vehicle is damaged extensively in an auto accident it will need to be towed to a repair place of your choosing. Towing insurance will pay for that expense.
- Accessories: Non-Emergency Medical Transport insurance should include accessories coverage so that you do not have to pay for repairing or replacing expensive equipment you have installed. Accessories coverage can be added to your business auto insurance to protect you from losses of devices such as GPS navigation units, communications radios and mileage meters.
How Much Does It Cost to Get the Best Insurance Policies for a Non-Emergency Medical Transport Company
Your non-emergency medical transport insurance cost is the sum of all your yearly premiums. However, businesses with similar insurance needs can end up paying different rates because insurers look at a variety of factors to determine premium.
General Liability Insurance
- Coverage Amount: $2 million
- Annual Premiums: $350 to $800
Physical Damage Insurance
- Coverage Amount: $10,000 to $100,000
- Annual Premiums: $380 to $1,000
Commercial Auto Insurance
- Coverage Amount: $1 million
- Annual Premiums: $1,500 to $4,200
Workers’ Compensation Insurance
- Coverage Amount: $500,000
- Annual Premiums: $2,000 to $4,200
- Coverage Amount: $1 million
- Annual Premiums: $400 to $1,500
How to Get the Best Insurance Policies for a Non-Emergency Medical Transport Company
There are various aspects to non-emergency medical transport insurance, which makes sense, as there are a lot of factors that put non-emergency medical transport companies at risk. Like other transportation businesses, non-emergency medical transport providers have to consider vehicle damage, bodily injuries to drivers and passengers in the event of a collision, and third party damage to properties or persons.
Non-emergency medical transport insurance also includes general liability coverage, another standard type of coverage for transportation companies. Below are things to consider when buying insurance for your non-emergency medical transport company:
- Know Your Risks
Have it in mind that insurance for your non-emergency medical transport always need to include liability coverage for harm you cause others.
However, only getting this third – party coverage means damage to your business or injuries to you and your customers are not included, so you may want to add coverage for your first – party risks. A good insurance agent can help identify your greatest risk exposures.
- Go for Value but Never Underinsure
You don’t want to be underinsured, but you also want to avoid buying unnecessary coverage. If a basic insurance policy is not enough to cover your risks, don’t hesitate to add endorsements or look for broader coverage.
As long as you can afford it, the highest amount of insurance coverage available is the best option when dealing with sensitive businesses. Some of the most common mistakes non-emergency medical transport company owners make when getting commercial auto insurance include:
- Not fully insuring their non-emergency medical transport vehicle
- Not purchasing an auto liability policy
- Not buying enough insurance
- Not opting into uninsured and underinsured motorist coverage
- Not electing to purchase comprehensive coverage
- Get an Agent Who Knows the Industry
Agreeably, General liability insurance is not industry – specific, but non-emergency medical transport company owners still need to consider their industry and sector when shopping for coverage. An agent who has experience in the family recreation and fun business can anticipate your risks and their impacts. That way, they can help you buy the right coverage with the appropriate limits for your particular exposures.
- Add All Necessary Information on the Application
Remember that the information provided on your insurance application tells your agent, broker, or underwriter how to best cover your specific risks, so you want to be as accurate and honest as possible. It does not only help protect your business, but it may also prevent you from being denied coverage if you file a claim.
When shopping for Non-Emergency medical transport insurance, always ensure to look for exclusions that carriers do not cover.
For example, some insurance companies have“sexual abuse exclusion” and will not cover you against lawsuits arising from inappropriate sexual contact by an employee or officer. Some carriers require that your company has been in business for a certain number of years before they will provide coverage.
Howbeit, ensure to consult an insurance agent or broker whom you trust to provide the best advice about the coverage you need. Legal requirements vary from state to state, and a local insurance advisor is sure to understand local regulations.